China LLDPE futures fall by 0.66% on falling crude, lower supply

30 March 2012 11:49[Source: ICIS news]

SINGAPORE (ICIS)--China’s linear low density polyethylene (LLDPE) futures fell by 0.66% in line with falling crude oil prices as investors lower their inventory with caution, an industry source said on Friday.

?xml:namespace>China’s upcoming Qingming Festival has led traders to unload cargoes with caution, the source said.

Nymex crude futures closed at $102.78/bbl on 29 March, down by $2.63/bbl or 2.5% from the previous level.

September LLDPE futures, the most actively traded contract on the Dalian Commodity Exchange (DCE), closed at yuan (CNY) 10,615/tonne ($1,685/tonne) on Friday, down by CNY70/tonne from the settlement price at CNY10,685/tonne on 29 March.

Around 1.33m tonnes of LLDPE for delivery in September, or 530,878contracts, were traded on Friday, according to DCE data.